Can I retire at age 64 with 704,000?

Use the below retirement simulation to view the chances of a successful retirement.
Confused? Try the simple retirement calculator
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $704,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%12.3%
1 years$58,136$57,618$57,113$56,619$56,138$55,598
2 years$28,780$28,244$27,725$27,221$26,732$26,188
3 years$18,996$18,458$17,940$17,441$16,960$16,429
4 years$14,105$13,568$13,055$12,565$12,096$11,582
5 years$11,171$10,638$10,132$9,651$9,195$8,700
6 years$9,216$8,687$8,188$7,718$7,276$6,799
7 years$7,820$7,295$6,804$6,345$5,917$5,460
8 years$6,773$6,253$5,770$5,323$4,909$4,471
9 years$5,960$5,444$4,970$4,534$4,134$3,715
10 years$5,309$4,799$4,333$3,908$3,522$3,123
11 years$4,777$4,272$3,815$3,401$3,029$2,648
12 years$4,335$3,835$3,385$2,984$2,625$2,262
13 years$3,960$3,465$3,025$2,634$2,289$1,944
14 years$3,639$3,150$2,718$2,338$2,007$1,679
15 years$3,362$2,877$2,454$2,085$1,767$1,456
16 years$3,119$2,640$2,225$1,867$1,562$1,267
17 years$2,905$2,431$2,024$1,678$1,385$1,106
18 years$2,715$2,247$1,848$1,512$1,231$967
19 years$2,545$2,082$1,692$1,366$1,097$848
20 years$2,393$1,935$1,553$1,237$980$745
21 years$2,255$1,802$1,428$1,123$877$656
22 years$2,130$1,682$1,316$1,021$786$578
23 years$2,015$1,573$1,215$930$706$510
24 years$1,911$1,474$1,124$848$634$450
25 years$1,815$1,384$1,041$774$571$398
26 years$1,727$1,300$965$708$514$352
27 years$1,645$1,224$897$648$464$312
28 years$1,569$1,153$833$594$418$276
29 years$1,499$1,088$776$545$378$245
30 years$1,433$1,027$722$500$341$217
31 years$1,372$971$673$459$309$193
32 years$1,314$919$628$422$279$171
33 years$1,261$870$587$388$253$152
34 years$1,210$825$548$357$229$135
35 years$1,163$782$513$329$207$120
36 years$1,118$743$479$303$188$107
37 years$1,076$705$449$279$170$95
38 years$1,036$670$420$257$154$84
39 years$998$637$394$237$140$75
40 years$962$606$369$219$127$67
41 years$929$577$346$202$115$59
42 years$896$550$325$186$104$53
43 years$866$524$305$172$95$47
44 years$836$499$286$159$86$42
45 years$809$476$268$146$78$37
46 years$782$454$252$135$71$33
47 years$757$433$237$125$64$29
48 years$733$414$223$116$58$26
49 years$709$395$209$107$53$23
50 years$687$377$197$99$48$21

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 64 starting with $704,000, adding $5,848 every year, while hoping to spend $59,686 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 33/46/21 Blend
63$704,000$704,000$704,000$704,000
64$781,840$744,528$733,616$802,428
65$798,082$717,505$694,687$791,243
66$813,981$687,157$652,453$773,340
67$829,438$653,258$606,741$752,813
68$844,343$615,570$557,369$729,467
69$858,572$573,840$504,148$703,093
70$871,989$527,800$446,879$673,470
71$884,438$477,168$385,355$640,360
72$895,747$421,646$319,361$603,511
73$905,725$360,918$248,671$562,650
74$914,156$294,650$173,049$517,489
75$920,803$222,491$92,249$467,717
76$925,400$144,068$6,015$413,003
77$927,652$58,989$0$352,993
78$927,232$0$0$306,578
79$923,775$0$0$273,556
80$916,877$0$0$269,083
81$906,090$0$0$263,133
82$890,917$0$0$255,525
83$870,807$0$0$246,055
84$845,151$0$0$234,500
85$813,271$0$0$220,612
86$774,419$0$0$204,116
87$727,768$0$0$184,709
88$672,401$0$0$162,056
89$607,304$0$0$135,785
90$531,357$0$0$105,486
91$443,319$0$0$70,706
92$341,820$0$0$30,944
93$225,347$0$0$0
94$92,227$0$0$0
95$0$0$0$0
96$0$0$0$0
97$0$0$0$0
98$0$0$0$0
99$0$0$0$0
100$0$0$0$0